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Time of India
4 days ago
- Business
- Time of India
Shopping Para Gariahat
1 2 3 4 The Gariahat neighbourhood, a microcosm of the city's history, commerce, culture and daily life, has evolved with the onslaught of times but its lively and dynamic environment characterized by shopping on pavements as well as din and bustle has not changed over the last several decades. With the cacophony of street vendors in the backdrop, Gariahat, pulsating with commerce and culture, encapsulates daily rhythms of life. The area, spread over Ballygunge, Golpark and Rashbehari, evolved over the years with high-rises, malls, restaurants, cafes and branded retail outlets. The 9.3km Gariahat Road serves as a lifeline of south Kolkata, cutting through localities like Ballygunge, Dhakuria and Jodhpur Park. ORIGIN The area, including Gariahat and Ballygunge, was once part of Dihi Panchannagram, a cluster of villages purchased by the East India Company in 1758 after the fall of the then Nawab of Bengal, Siraj-ud-Daulah. The major part of Gariahat neighbourhood falls in Ballygunge and after the opening of the suburban railway connectivity in 1862, middle class educated people settled in this locality. In the 19th century, the Gariahat market was set up as a small market and has since grown into one of the biggest markets on the southern fringes of the city. Famous personalities like poet Jibanananda Das, writer Sunil Gangopadhyay, politician Subrata Mukherjee, yesteryear actors Suchitra Sen, Bikash Roy and Pahari Sanyal were associated with this place. BIG COMMERCIAL HUB Being a shopping district, Gariahat presents a kaleidoscopic view of the city's dynamism. The pavements of the area serve as shoppers' paradise, from garments, saris, handicraft items to other household items. Over 3,000 hawkers or street vendors run their stalls on both sides of the road at the market visited by thousands of shoppers daily. During the festive times like Durga Puja or Poila Baisakh, the customers' turnout swells nearly three times. The fish market at Gariahat is known for its wide variety. The Dakshinapan Shopping Centre situated on Gariahat Road near Dhakuria was set up by Kolkata Improvement Trust in 1988 with 141 shops selling mostly garments and handicrafts. In the past one decade, several malls sprang up in this prominent shopping district of the city. Septuagenarian Rekha Lodha, who has been living in the Gariahat area for over four decades, said, "From my younger days I preferred buying sarees from Gariahat, a place where a woman can shop till she drops. Whenever guests come to stay in my house, they don't give a miss to shopping in Gariahat, which is so popular among the residents of other states as well." The road heading towards Ballygunge station from Gariahat crossing has turned into a jewellery hub with branded showrooms and standalone shops on the lines of central Kolkata's Bowbazar. TRANSFORMATION The first makeover of Gariahat came with the Kolkata Municipal Corporation's Operation Sunshine, a drive to evict illegal hawkers to free up pavements and carriageways. Earlier, the encroachments spilled on to median dividers and pavements, narrowing down the space for pedestrian and vehicular movement. The second transformation came in 2002 with the construction of a 571-metre Gariahat flyover that changed the appearance of the area. Also it resulted in the abolition of a cobweb of tram tracks near the crossing. The Gariahat tram depot that was set up in 1943 used to operate services on different routes like Dalhousie Square, Bidhannagar, Howrah, Kalighat, Behala, Joka and Galiff Street. Today the 25 no. route tram service between Gariahat and Esplanade is operational, although the number of cars has dipped over the years. Manju Baid (68), a resident of Purna Das Road near Gariahat market, said, "I have a soft corner for tramways in this area as it is the most convenient and easily available transport. I still avail myself of the Gariahat-Esplanade service to go to Park Circus or Chandni market." REALTY DEVELOPMENT The skyline of Gariahat started changing in the 1980s with the development of residential projects Rajwadi Complex. Over the past two decades several high-rises like Megh Malhar Apartment and Nilanjan Apartment came up there while various real estate developers, including PS Group, Mani Group and Orbit Group built projects in Ekdalia and other localities of Gariahat. Several old buildings at Ekdalia, Dover Lane, Mandeville Gardens, Hindustan Park and Triangular Park localities have been razed, making way for new apartments. Despite booming realty, many century-old private properties are still well-maintained there, thereby presenting a slice of old south Kolkata. Sunita Mussadi, a Ballygunge Circular Road resident, said, "While the charms of old Kolkata are getting wiped out in many parts of the city, Gariahat still presents a fusion of the old and the new. Here you can find century-old buildings as well as new high-rises; old shops as well as new swanky stores. This area contains a unique blend of tradition and evolution." SOCIAL LIFE For south Kolkatans, Gariahat has been a prominent attraction for addas and socializing since the time when roadside tea stalls and small eateries were the only hangout zone. Of late, several snazzy cafes and restaurants have come up there and the adda zone of the locality remains intact even among tech-savvy youngsters. Along with old-timers, the area has a significant footfall of youngsters studying in different educational institutions like Basanti Devi College, South Point High School and The BSS School. Anjan Chatterjee, chairman and managing director of Speciality Restaurant Ltd, said, "I may live in Mumbai and visit London frequently but my bond with Gariahat remains as strong as ever in the past five decades. Gariahat was a meeting point for our local friends and we still maintain this. I have lived in Jadavpur, then Dover Lane followed by Gurusaday Road. Even today when I go to Kolkata, I catch up with my friends in the Gariahat area. " Debasish Kumar, Trinamool Congress MLA and KMC councillor, said, "The Gariahat area always evokes nostalgia in me. There was a time when we used to have addas at local tea stalls and would share one 'bhand' tea with friends because of less pocket money. Now time has changed and addas at tea stall have moved to swanky coffee shops." FOOD, CULTURE & GAME Apart from shopping melange, the locality is also known for its cultural mosaic. The Ramakrishna Mission Institute of Culture, Golpark, set up in 1961 — the most popular place in the city for learning foreign languages — has brought the area under a cultural enclave. Gariahat caters to gastronomic cravings of foodies in the city. From street stalls selling 'phuchkas' and 'kathi rolls' to restaurants preparing different cuisines, this area serves everyone's palate. The space under Gariahat flyover hosts an open air public chess playing arena. In the evening, people assemble at the chess corner and play the game. Abhijit Sadhu, a resident of Triangular Park, said, "Watching the game and having addas with friends over tea in 'bhand' (earthen pot) under the flyover in the evening has been my weekend schedule for over the last 20 years."
Mint
23-04-2025
- Business
- Mint
Senco Gold, Kalyan Jewellers to Titan: Jewellery stocks rally up to 42% in April amid rising gold prices. Do you own?
Gold price today: As gold continues to break records this month, domestic jewellery stocks like Kalyan Jewellers, Titan, Senco Gold, and PC Jeweller have mirrored the yellow metal's shine, with all these stocks gaining up to 42% in April so far, brightening investor portfolios. Senco Gold's share price has zoomed from ₹ 270 apiece to ₹ 382 in April so far, delivering a stellar 41.6% return. Tribhovandas Bhimji Zaveri (TBZ) has gained 18%, while shares of Kalyan Jewellers and Motisons Jewellers have rallied up to 12% during the same period. Other jewellery stocks, such as Titan and PC Jeweller, have surged by 9% and 4%, respectively, in April so far. The sharp demand for jewellery stocks on Dalal Street suggests investors remain unconcerned about a potential dip in domestic jewellery sales despite soaring gold prices—which have rallied nearly 33% (spot) so far this year, outperforming all other asset classes amid continued global trade tensions. Based on the company's March quarter business update, demand for jewellery remained buoyant. For instance, Senco Gold reported total revenue growth of 19.1% and retail revenue growth of 23% in Q4FY25. The company noted that despite firm gold prices in Q4, consumer sentiment towards gold as a store of value remained strong. Looking ahead, Senco is confident of a strong start to FY26, driven by robust demand during Poila Baisakh, Akshaya Tritiya, and continued momentum in the wedding season—all expected to significantly boost Q1 FY26 sales. Similarly, Kalyan Jewellers recorded a consolidated revenue growth of approximately 37% compared to the same period last year, despite extreme gold price volatility. The company's India operations saw a revenue jump of around 39% in Q4 FY25 versus Q4FY24, with same-store sales growth of approximately 21% in March quarter. 'We are upbeat about the ongoing quarter and are witnessing encouraging trends in advance collections for both Akshaya Tritiya and wedding purchases during the festive/wedding season,' the company said in its April 7 regulatory filing. Titan also saw its jewellery business grow 25% YoY in Q4 FY25. Gold prices in the retail market of Delhi surged to a historic high of ₹ 1 lakh per 10 grams on Tuesday. Meanwhile, on the Multi Commodity Exchange (MCX), gold prices breached the ₹ 99,000 mark for the first time, reaching ₹ 99,358 per 10 grams. The yellow metal holds a central role in the country's culture—considered a store of value, a symbol of wealth and status, and a fundamental part of many rituals. In the international market, gold prices topped $3,500 per troy ounce for the first time on Tuesday and have gained nearly $700 in less than the first four months of 2025. Amit Jain, co-founder of Ashika Global Family Office Services, said, 'We've been bullish on gold since 2020, and the recent rally only reinforces our view. Domestically, the surge in gold prices has been driven by a mix of macroeconomic and geopolitical factors—rising global tensions, a weaker rupee, and sustained central bank buying. Additionally, inflationary pressures and uncertainty around U.S. interest rate cuts have kept global investors parked in safe-haven assets like gold.' "Globally, gold prices have hit all-time highs as well, but India's local factors—especially currency depreciation and import duties—have amplified the gains here. Compared to other markets, Indian gold prices are running higher, but the broader drivers remain aligned. In uncertain times like these, gold continues to be a critical portfolio hedge," he added. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions. First Published: 23 Apr 2025, 01:34 PM IST
